Demonetisation Effect: Petrol pumps to provide upto Rs 2000 a day

Are you frustrated about liquid cash? Struggling to get cash from ATMs ? Then this announcement from central govt will make you happy.

Coming to the News is you can get the cash from Petrol Stations. Yes, now drive into a petrol station to draw money. You can swipe your debit card at fuel stations run by state-run oil companies and get Rs 2000 cash.

This facility will be initially started at 2,500 petrol pumps across India that have SBI cards swipe machines. Now from coming three days, the service will be prolonged to 20,000 petrol stations that have card swipe machines from HDFC, Citibank, and ICICI.

All India Petroleum Dealers Association suggested this move as a part of center’s efforts to affluence the rush for new notes at bank branches and ATMs following Withdrawl of Rs 500 and 1000 notes. But, they estimate that there will be a chance of rush at petrol pumps by this initiative.

After arranging a meeting between senior executives of leading petroleum industries such as Indian Oil, Bharat Petroleum and Hindustan Petroleum and SBI Chief Arundhati Bhattacharya, finally, the plan of withdrawing cash from Petrol Pumps came to the limelight on Thursday.

The facility to draw money from petrol pumps will carry on even after November 24, which is the deadline for the use of inactive Rs 500 and Rs 1000 notes in gasoline stations and essential services. The Withdrawl may be limited, and it will be regulated to Rs 2000 per debit card per day.

Ajay Bansal, AIPDA President, told that “We are happy for our proposal. Finally, Government approved the proposal to help middle-class people. We are supporting Government in its fight against black money and terror funding.”